Welcome to our dedicated page for Exelon news (Ticker: EXC), a resource for investors and traders seeking the latest updates and insights on Exelon stock.
Exelon Corporation (EXC) generates a steady flow of news as a Fortune 200 utility company and one of the nation’s largest providers of regulated transmission and distribution services. Through its six operating utilities—Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco—Exelon issues updates on customer programs, grid investments, financing activities and regulatory developments that affect more than 10.7 million customers.
News about EXC often covers customer affordability initiatives and assistance programs. Recent announcements include Exelon’s Customer Relief Fund, which has provided $60 million in direct customer assistance over the past year, and an additional $10 million contribution to support customers as winter weather increases energy use. ComEd has also highlighted the launch of a Low-Income Discount program designed to provide percentage-based bill reductions for income-eligible customers, as well as other bill-support and energy efficiency efforts.
Investors and observers can also find coverage of Exelon’s grid and transmission projects. ComEd has reported on new Transmission Security Agreements with large load customers to ensure they pay their fair share of transmission costs, as well as the expansion of the Wilton Center substation to enable the interconnection of multiple wind and solar farms. Exelon has additionally been identified with NextEra Energy Transmission in a proposed 765-kV transmission line project under PJM’s Regional Transmission Expansion Plan.
Other EXC news items include executive leadership changes, such as the appointment of a chief customer and technology officer, and capital markets activity, including the offering and pricing of convertible senior notes due 2029. The Exelon news page on Stock Titan aggregates these updates so readers can follow themes such as customer affordability, infrastructure investment, regulatory disclosures and financing decisions related to EXC.
STEER Holdings Inc., a subsidiary of Facedrive Inc. (TSXV: FD, OTCQX: FDVRF), has signed an agreement with Enterprise Fleet Management to lease over 1000 electric vehicles valued between $80 and $150 million (USD). This strategic move supports STEER's plans for growth and U.S. expansion within the EV subscription market. The partnership aims to meet rising consumer demand for flexible, eco-friendly mobility solutions, capitalizing on the tight supply of EVs.
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ComEd and Openlands announced $10,000 grants to 23 organizations through the 10th annual Green Region Program aimed at enhancing climate resilience in northern Illinois. Since its inception, the program has allocated over $1.9 million, funding projects that have planted over 38,000 trees and improved more than 1,400 acres of land. This year's initiatives focus on pollinator habitats and protecting species like butterflies and bees. The program illustrates ComEd's long-standing commitment to sustainability and improving community green spaces.
Exelon (Nasdaq: EXC) has welcomed President Biden’s signing of the Inflation Reduction Act. The company emphasizes its commitment to investing in the clean energy transition, focusing on innovative solutions for reliable energy delivery. The act is expected to provide substantial resources to support the clean energy sector, enhancing efforts towards a cleaner grid.
ComEd celebrated the graduation of its sixth class from the Tools of the Trade program, which trains high school students in trades and clean energy careers. Over seven weeks, 25 students learned about the energy sector through hands-on projects and professional development at ComEd's training centers in Chicago and Rockford. Since its launch in 2016, 108 students have graduated from the program, with 76% of the latest cohort being minorities. The program aligns with ComEd's commitment to workforce development and aims to fill the anticipated 2,000 new utility jobs in the Midwest within the next three years.
ComEd has extended the application deadline for its $1.8 million Climate Friendly Grant Assistance program to August 19, 2022. The program will award grants up to $450,000 each to four eligible nonprofit organizations in northern Illinois. These nonprofits must support diversity and provide clean energy-focused assistance to limited-income customers. ComEd aims to alleviate economic pressures and enhance clean energy access to its community, reflecting its long-standing commitment to supporting local organizations.
Exelon (Nasdaq: EXC) has priced a public offering of 11,300,000 shares of common stock, aiming for approximately $500 million in gross proceeds. The underwriters also have a 30-day option to purchase an additional 1,695,000 shares. The offering is set to close on Aug. 9, 2022. The net proceeds will be allocated to repay part of a $1.15 billion term loan credit facility. Barclays Capital, Goldman Sachs, J.P. Morgan, and Morgan Stanley are the joint underwriters.
Exelon (Nasdaq: EXC) plans to offer $500 million in common stock as part of an underwritten public offering, with a potential additional $75 million for underwriters. The proceeds will be used to repay borrowings from a $1.15 billion term loan credit facility. Barclays Capital, Goldman Sachs, J.P. Morgan, and Morgan Stanley are the underwriters. The offering follows a previous shelf registration filed on August 3, 2022.
Constellation Energy Corporation (Nasdaq: CEG) reported a GAAP net loss of ($111) million for Q2 2022, worsening from ($61) million in Q2 2021. Adjusted EBITDA (non-GAAP) fell to $603 million, down from $656 million year-over-year. The company reaffirmed its full-year adjusted EBITDA guidance at $2.35 billion to $2.75 billion, supported by higher energy prices and lower nuclear fuel costs. Recent agreements with Bank of America and PNC Bank aim to procure carbon-free energy. Highlights also included legislation supporting nuclear energy and a significant renewable energy deal from the Mammoth Solar project.
Exelon Corporation (Nasdaq: EXC) reported a GAAP Net Income of $0.47 per share and Adjusted Operating Earnings of $0.44 per share for Q2 2022, up from $0.33 and $0.36, respectively, in Q2 2021. The company reaffirmed its guidance for full-year Adjusted Operating Earnings at $2.18-$2.32 per share. Exelon plans to issue up to $1 billion in common stock by 2025 and anticipates $500 million in 2022. Notable performance includes ComEd's best CAIDI performance. However, some units, such as BGE and PHI, saw declines in earnings compared to the previous year.